Flipping Tax in B.C. Starting January 01, 2025
What is the Flipping Tax? The flipping tax in British Columbia was introduced to discourage speculative real estate practices that drive up housing prices. The tax applies when properties are sold within a short time frame, specifically within 730 days (or two years) of purchase. This measure is part of a broader strategy to make…
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Tips For Sellers
Pre-Inspection Checklist Fresh Paint: Colors: Opt for neutral tones like beige, gray, or soft white to create a blank canvas. Touch-ups: Address any scuffs or marks on walls and trim for a polished look. Professional Cleaning: Floors: Ensure hardwood, tile, or laminate is cleaned and polished. For carpets, consider deep cleaning or replacing if heavily…
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Property Tax Transfer
How much should you have on closing date for Property Tax Transfer?
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Home Buyers Plan With RRSP
Is it a good idea to pull your RRSP to purchase your first home?
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Exemptions For The Home Owner Grant
Types of Tax-Exempt Properties In BC, the following types of properties can be exempt from property taxation: Places of Public Worship: Churches and other religious institutions used primarily for worship. Private Schools: Schools operated privately that meet certain criteria. Non-Profit Residences for the Elderly: Facilities providing accommodation and care to seniors, operated by non-profit organizations.…
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